Unveiling spatial and temporal patterns of second home dynamics: a Bayesian spatiotemporal analysis for a Mediterranean island

Importance of temporary and permanent snow for new second homes

“…What is more, the present analysis contributes to the literature on determinants of second homes based on regional data (De La Mata and Llano-Verduras 2012;Yuheng et al 2022). For example, Yuheng et al (2022) model the determinants of the share of second homes using spatial econometric models.…”

“…Several studies indicate that glaciers are an important attraction factor for visitors and tourists (Welling et al 2015;Salim et al 2022), something that could influence the choice of location for new second homes. Yuheng et al (2022) use a spatial econometric count data model to estimate the determinants of the number of second homes at the detailed county level. Their estimates show a relationship with natural amenities.…”

“…The present study extends this line of work with panel data count models augmented by spatial effects and the inclusion of snow depth. Information on land use characteristics are also more detailed than in previous studies (Willibald et al 2019;Yuheng et al 2022).…”

The invisible hand of an invisible population: Dynamics and heterogeneity of second‐home housing markets

“…Second‐home owners want their second homes to be reasonably close to their primary residence, but proximity can be traded for longer distances if this enables access to desired amenities (Müller, 2006; Müller et al, 2004; Qviström et al, 2016; Strandell & Hall, 2015). The densest second‐home areas tend to be located close to urban areas or tourism hotspots, such as mountains, coasts, or lakes, where the amenities have justified the construction of purpose‐built second homes (Adamiak et al, 2016; Coppock, 1977b; Gallent et al, 2016; Müller, 2005, 2006, 2007; Müller & Marjavaara, 2012; Overvåg, 2010; Yuheng et al, 2021). Other regions experience limited demand, and the presence of second homes is mainly explained by a conversion of housing from permanent use or a regional demand (Müller, 2004).…”

“…The paper's focus is transactions in the housing market; in other words, the Smithian invisible hand (Evensky, 1993) of the invisible population of second‐home owners (Müller, 2007). While the actual pricing in housing markets are the results of a complex interplay relating to, for example, property qualities, location, access, amenities, market actors, regional employment, land‐use and housing policies, such specifics are outside the scope of the present paper (e.g., Bourne, 2019; Cho et al, 1990; Glaeser et al, 2005; Osland & Thorsen, 2008; Potepan, 1996; Yuheng et al, 2021).…”